## Denmark: Selected Issues

_IMF Staff Country Reports, June 25, 2019_

## Source details

**Canonical URL:** [Denmark: Selected Issues](https://www.imf.org/en/publications/cr/issues/2019/06/24/denmark-selected-issues-47026)

## Other formats

- [Markdown version](/en/publications/cr/issues/2019/06/24/denmark-selected-issues-47026/index.md)
- [Structured JSON version](/en/publications/cr/issues/2019/06/24/denmark-selected-issues-47026/index.json)
- [Bundle manifest](/en/publications/cr/issues/2019/06/24/denmark-selected-issues-47026/bundle-manifest.json)

## Bibliographic details
- Published: June 25, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498321136.002

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### Overview
- Context: Considers the Danske Bank case within a highly integrated Nordic-Baltic financial sector.
- Purpose: Compares money laundering (ML) threats and supervisory vulnerabilities across the region’s largest economies; highlights Denmark’s ongoing efforts; notes critical next steps; provides recommendations to maintain momentum for reform.
- Core finding: Denmark has taken important steps to strengthen anti-money laundering and combating the financing of terrorism (AML/CFT) supervision over the last two years.

### Main findings
- Legislative and supervisory actions taken:
  - Amendments to the AML Act.
  - A significant increase in supervisory resources.
  - A concomitant increase in on-site inspections.
- Assessment:
  - These steps represent relevant and necessary responses to the ML risks facing Denmark.
  - The key policy objective is to maintain and build on the momentum Denmark has already established.

### Implementation challenges and timing
- Capacity building:
  - The skills of newly hired inspectors will take time to build.
- Institutional development:
  - The elaboration of a comprehensive institutional risk assessment model will take time to complete.
  - The development of an AML/CFT supervisory manual will take time to complete.
- International cooperation:
  - Strengthened working relationships with foreign counterparts will take time to establish and operationalize.

### Policy recommendations (implied actions)
- Maintain and build on recent reforms and increased supervisory activity.
- Continue to invest in inspector training and capacity development.
- Finalize and operationalize a comprehensive institutional risk assessment model.
- Develop and implement an AML/CFT supervisory manual.
- Strengthen working relationships and operational cooperation with foreign counterparts.

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## Content in this bundle

- **Denmark Selected Issues;  IMF Country Report No. 19/179;  June 2019**
  - [Denmark Selected Issues;  IMF Country Report No. 19/179;  June 2019 (Markdown version)](/-/media/files/publications/cr/2019/1dnkea2019002.pdf.md){rel="alternate" type="text/markdown"}
  - [Denmark Selected Issues;  IMF Country Report No. 19/179;  June 2019 (PDF)](/-/media/files/publications/cr/2019/1dnkea2019002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2019/06/24/denmark-selected-issues-47026_